How Much Does In-Home Care Cost? Your Guide to Affording Care

Caring for an aging loved one can be a deeply rewarding experience. But for many adults, it isn’t possible to fully meet their loved one’s needs on their own. Whether they’re short on time, expertise, or emotional bandwidth, most people struggle with at least one vital component of properly caring for their loved ones. That’s where in-home care services for seniors come in—but how much does in-home care cost?

Cost is understandably a common concern when it comes to elderly care. At ComForCare, we’re here to help families understand their options, explore the different ways they can afford these vital services, and make a decision feeling confident about their financial and personal future.

How Much Does In-Home Care Cost?

Having to face a decision about senior care is never easy, but we’re here to break down the basics. If you’re ready to get personalized budgeting tips and advice, find your nearest ComForCare to speak to an expert.

Types of In-Home Care Services for Seniors

One of the first things that will determine the cost of care for your loved one is the type of service they need. At-home elderly care comes in many shapes and sizes, including:

• Personal Care: A caregiver visits the home to help with companionship, light housekeeping, meal preparation, bathing/grooming, safety supervision, transportation, and more.
• Dementia Care & Alzheimer’s Care: Specialized memory care programs adapted for the home environment are led by caregivers trained in our DementiaWise® program.
• 24-Hour Home Care: Around-the-clock personal care is ideal for those who need additional assistance and companionship.
• Private Duty Nursing: Skilled nursing care, also sometimes called home healthcare, is great for those who need wound management or specialized therapies (services vary by location).
• Remote Patient Monitoring: Get an added layer of security at home using leading-edge telehealth tools and virtual check-ins to optimize well-being (services vary by location).
• Respite & Short-Term Care: For family caregivers who need temporary help or a much-needed break from their duties, respite care is a welcome option.

Other Factors that Affect In-Home Care Costs

Location 

The total cost for in-home care can vary depending on what your loved one needs and where they live. But, it usually ends up being much more affordable compared to other options. 

For example, a recent Genworth Cost of Care Survey found that the monthly average cost amounts to about $5,720 in the United States. However, for families in Mississippi, that number was $2,860, while families in California may expect closer to $6,864.

Level of Care Needed 

The averages mentioned above are based on 44 hours of care per week or roughly 8 hours per day, 5 days per week. However, not all seniors need this many hours of care, while others may need more. Part-time care for only a few hours a day is a great option that works for many families. Costs can also vary based on whether a person needs in-depth, skilled services or light assistance.

Agencies vs. Private Caregivers

Hourly rates can vary based on whether you work with a private caregiver or a home care agency. It’s important to note that the level of flexibility in scheduling varies amongst home care agencies, and some may require a minimum number of hours per week or per visit. 

At ComForCare, we are committed to helping families customize their services. With flexible scheduling, multiple care options, and experts at your fingertips to help inform your decisions, you can personalize high-quality elder care to your preferences and budget.

Comparing Costs: At-Home Elderly Care vs. Senior Care Communities

While in-home care can certainly be a big investment, many older adults and their families are surprised at how affordable it can be, especially when compared to other senior care options.

Nationally, nursing homes cost nearly $10,000 per month for a private room and almost $9,000 for a semi-private room. Plus, while the national average for assisted living facilities is comparable to that of in-home care, this figure may not be representative of all the associated costs of joining a senior living community.

It’s also important not to forget the emotional toll of moving a loved one into a residential care facility—or of continuing to provide care on your own. 

When weighing your decision of whether to provide care yourself or hire help at home, you should also take into account the expense of any time that you may have to take off work, spend on transportation, and other related expenses.

Paying for Senior Care Services at Home

Oftentimes, families see the numbers and think that they can’t afford at-home elderly care. But there are many potential sources for funding the care you need. Let’s explore a few of the most asked-about options.

Long-term Care Insurance (LTCI)

Long-term care insurance (LTCI) is a specialty insurance that can help those with a policy pay for assistance with daily activities such as bathing, dressing, and medication management.

Buying an LTCI policy can provide financial security, guarantee access to necessary care without depleting personal savings, and offer peace of mind.

However, LTCI has limitations. These policies tend to have high premiums, strict eligibility criteria, and a potential for rate increases. If your loved one doesn’t have a policy in place when the need for care arises, it may be too late to acquire one.

Life Insurance

Using life insurance to cover in-home care costs typically involves two main options: accelerated death benefits and life settlement. 

Accelerated death benefits allow policyholders to access a portion of their benefit if they meet certain criteria, such as needing long-term care. Families can use this feature to provide funds to pay for in-home care. 

Alternatively, a life settlement involves selling the life insurance policy to a third party for a lump sum, which can then be used to cover care expenses. 

Veteran Benefits

Veterans may be eligible for in-home care benefits through the U.S. Department of Veterans Affairs (VA). Eligibility typically depends on factors such as the veteran's service-connected disabilities, income level, and need for assistance with daily activities. For more information, check out our guide to navigating veteran benefits for home care!

Out-of-pocket Payments

When planning to pay for in-home care out of pocket, start by assessing your expenses and evaluating all available income streams. It’s important to create a budget that prioritizes essential expenses while exploring funding options such as: 

• Family member payments
• Reverse mortgage funding
• Public resources

Bottom Line: Affordable In-Home Care is Possible

Paying for senior care can feel daunting, but with the right planning and expert guidance, you can make a decision that is best for your family and your budget. At ComForCare, our team is here to help you find the level of service and number of hours that you can afford, giving you ultimate peace of mind.

Whether it’s helping you explore local public resources, providing budget and planning guidance, or customizing your care plan, ComForCare is always by your side. If you’re ready to start thinking about at-home care for your loved one, give us a call today! 

ComForCare: Get the Care You Need at a Price You Can Afford

With over 200 locations in the United States and Canada, ComForCare is your trusted source for senior care. Find a caregiver that is perfectly suited for your loved one’s needs, personality, and schedule through our caregiver matching program! Call us anytime, 24/7 to connect with a senior care expert, ask questions, and explore your options.